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By Sarah M. Lange and J. Kevin Weste |
The Kentucky Oil and Gas Modernization Act of 2015 was enacted by the Kentucky General Assembly during the 2015 Legislative Session and will take effect on June 24, 2015. The legislation provides regulatory certainty to the Commonwealth’s oil and gas industry with regard to horizontal development of deep formations. The legislation was also designed to modernize and strengthen Kentucky’s oil and gas regulations and will create new sections of Kentucky Revised Statutes 353.500 and 353.720. The Act was signed by Governor Steve Beshear on March 19, after clearing the legislative process without a dissenting vote. The new regulations establish the parameters governing the drilling, permitting, spacing, and reclamation of deep well exploration in Kentucky, as well as creating an abandoned storage tank reclamation program and establishing the requirement for FracFocus chemical disclosure. Click here to find out what you need to know about the Kentucky Oil and Gas Modernization Act, as well as how to have your voice be heard during the public comment period. Click here to register for Steptoe & Johnson's June 24, 2015 webcast on this topic.
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